Economics Weekly: What Happens to 10-Year Yields Around the Start of Fed Tightening Cycles

There was a sharp move upward in bond yields this week, with 10-year T-Note yields rising from 1.51% at the end of last week to 1.73% on Thursday—just four days later. Such a sharp move has unsurprisingly raised the question of what has caused the spike and what it signifies for 10-year T-Note yields through the rest of 2022.

In this Economics Weekly, we look at the 10-year yields, what drives them, and what might be causing them to rise today.

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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.